RC Chrysler Dodge Jeep Ram
RC Chrysler Dodge Jeep Ram, located in Newell, West Virginia, operates in the new car dealers industry (NAICS 441110). The business was financed with an SBA 7(a) loan for a change of ownership of $5 million, with Live Oak Banking Company as the lender and an approval date of May 30, 2024.
SBA 7(a) loan, change of ownership, approved May 30, 2024
$5,000,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.75%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- May 30, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $44,557 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 26, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 27
- Business type
- Corporation
- NAICS
- 441110, New Car Dealers
- Project location
- Hancock County, WV
- SBA district office
- West Virginia District Office
- Congressional district
- WV-01
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 57% of acquisition loans in New Car Dealers on this site.
- Average acquisition loan in New Car Dealers: $3,540,626.
- Average acquisition loan in West Virginia: $2,753,191.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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